EIA reports first weekly U.S. crude supply climb in six weeks
The Energy Information Administration reported that domestic crude supplies rose by 1.9 million barrels for the week ended Sept. 21. The EIA had reported declines in each of the previous five weeks. That defied expectations for a fall of 2.2 million barrels from analysts surveyed by S&P Global Platts, but the increase was smaller than the climb of 2.9 million barrels reported by the American Petroleum Institute on Tuesday, according to sources. Gasoline stockpiles rose 1.5 million barrels for the week, while distillate stockpiles fell by 2.2 million barrels, according to the EIA. The S&P Global Platts survey had shown expectations for supply increases of 256,200 barrels in gasoline and 667,000 barrels in distillates. November crude CLX8, -0.50% fell 48 cents, or 0.7%, to $71.80 a barrel on the New York Mercantile Exchange. That’s little changed from $71.78 before the supply data.
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